Shed5 has acquired Carntyne Industrial Estate from Spectrum Properties for £3.25m.
The off-market deal reflects a net initial yield of 8.59% and a capital rate of £32.50 per sq ft.
The multi-let industrial estate on the outskirts of Glasgow is accessible to both the city centre, M8 and M74 motorways.
It extends to approximately 100,000 sq ft and comprises 17 units of sizes ranging from 1,000 to 10,000 sq ft.
The passing rent is currently £297,000 per annum, with a weighted average unexpired lease term of 1.25 years.
Galbraith and Thorntons advised Shed5.
Jamie Addison-Scott, a surveyor at Galbraith, commented: “We were able to act decisively in this off-market acquisition and Shed5 look forward to working with tenants in carrying out their asset management strategy.”
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